ROSEBUD – KEEP ON YOUR WATCH LIST

ROSEBUD – KEEP ON YOUR WATCH LIST

Rosebud is enjoying a new era of popularity in the real estate market. It’s a vibrant town, just past McCrea with excellent infrastructure for families and downsizers. The median house price sits at $603,000, up from $580,000 on the same time last year. Older styled historical beach shacks are making way for new restorations as more sea changers choose the peninsula as their enduring home.

Rosebud shops are filled with brand supermarkets, Rosebud Secondary School is a thriving community, primary schools are well regarded and bus routes up and down the peninsula allows for easy access to Mornington and Frankston or south to Sorrento and Portsea.

A recent change to planning laws is having an impact on new development, which is not such a bad thing. Reducing the footprint of small blocks used as dual occupancy, by increasing the size to a minimum of 450sqm with a reserve of 35% garden is a long-term strategy maintaining the aesthetic quality of this up and coming location.

Director of Granger Real Estate agents, Mr. Mike O’Neil has been active in this part of the peninsula since 2002. Recently chatting with Mike the main issue facing agents in Rosebud and the surrounding areas including McCrae and Dromana is not in attracting buyers but insufficient levels of quality stock. We’re seeing this across the peninsula, quality stock is attracting buyers, however, at this time of year and negative press around house prices, vendors are taking a hold position.

A Rosebud property of significance is due to for auction the weekend after next.

741 – 743 Point Nepean Road Rosebud is a grand, extensively renovated CIRCA 1891 Victorian mansion. Taking a position right on the water she’s an imposing piece of Victorian architecture, just over 60sqs of living on a huge beachfront parcel of 3618sqm approx. The suggested EPR is quoting $3.2M – $3.5M, is bound to attract plenty of attention and set a benchmark for Rosebud sales. The property is listed for auction on Saturday week; July 21st @ 11:00AM.

Keep Rosebud on your watch list; much is happening and getting in now will pay dividends in the future.